Top 10 Online Payment Processors

In today’s competitive business landscape, it is vital for every business whether online of offline to offer its customers different payment options. This not only ensures that you increase your customer base but also revenue collection.

Thanks to internet technology, more and more businesses are going online, i.e. e-commerce as a way of minimizing their operating costs while still increasing their bottom line. However, unlike other types of stores, i.e. departmental stores, supermarkets and hardware stores, online stores cannot receive hard cash. Traditionally, online buyers would use their credit cards or debit cards to make direct payments. But, due to increased online threats, online customers increasingly prefer the use merchant accounts to make their payments. When in the market for the best merchant account to use, you will be surprised that there are so many to choose from. Due to the high charges levied by banks, there has been the emergence of numerous merchant account providers looking to cash in on this market niche. As such, making an informed decision on the best merchant account to use is quite challenging.

Whereas, this article does not actually capture the top ten merchant account providers in a chronological order given that different merchant accounts offer various types of services that are unique from the others. What the article does is to offer a glimpse at some of the top ten most used merchant accounts. By going through the list you will be able to know which merchant account offers the best services related to your business.

1. Instabill.com:

If you are looking for a high risk merchant account with numerous offshore banks then you need to consider using Instabill. In addition, the service provider makes available what is known as third-party services. There are several benefits of using Instabill such as:

– Low monthly fee that covers both direct as well as third party merchant accounts.

– Customization of services to suit your specific needs.

– Flexibility.

– Low transaction fee.

– Minimum transaction amount.

2. 2Checkout.com:

2Checkout is sometimes confused to be a merchant account service provider when in actual sense it is not. It is a large network of online merchants and has its own web resources akin to the ones you will be offered when looking to join a third party merchant account. To sign-up with 2checkout.com, one will require paying a subscription fee of $49.00. There are no other extra fees that are charged other than the usual processing fees. There are numerous benefit that the account offers, i.e. free shopping cart system, 24/7 support and integration.

3. Authorize.net:

Authorize.net makes available a number of direct merchant accounts. Unlike other merchant accounts, Authorize.net has a diverse database of merchant account resellers. The resellers in turn make available numerous kinds of merchant account solutions with varying rates and conditions. In addition, it provides a wide range of e-commerce websites.

4. Charge.com:

Charge.com offers hardware as well as software credit card processing amongst other merchant account services. The relay technique selected for their accounts is a unique piece of application program that works in-between gateway and the online merchant. The initial thing that a person notes displayed on their website is the phrase ‘Free’, i.e. free software, free setup and free application amongst others. Whereas these offers are actually free, you will be required to pay fees for both service and gateway that mounts to $26.45. Processing fees are also levied.

5. NETBANX®:

Powered by Optimal Payments, NETBANX®: works in over 180 countries. It provides safe payment and money transfer services and gives merchants and consumers the autonomy to handle and move their money online. Their payment processing service was the first PSP in Canada, the United States and the United Kingdom (where it was founded).

6. Chase Paymentech:

As a subsidiary of JPMorgan Chase Bank, the Chase Payment Tech’s motto is “fast, reliable, easy.” It specializes in card-not-present (CNP) transactions and makes available a list of merchant account resellers to its clients.

7. Merchant Accounts Express:

This is a merchant account that is based in the United States and has been in operation since 1998. Presently, they are one of the merchant accounts in the market that offers lower rates. The company does not levy any fee for applying and setting up the account. Per transaction of $0.24, the company offers approximately 2.33%. However, there is a monthly fee that is charged for support, service and service at a rate of $9.95.

8. Moneybookers.com:

Moneybookers is one of the top merchant account providers in the world and is based in the UK. The company makes available easy solutions to individuals and businesses looking to begin credit card or debit card processing online. Nonetheless, the company has restrictions on certain e-commerce websites, e.g. adult, pharmaceutical, gambling and firearms and other sites deemed by the site as high risk. The company does not charge any monthly or registration fees. Nonetheless, the company will charge for transactions made online

9. SCS:

The Company offers merchant accounts to not only in the United States but also internationally. There are different kinds of services and solutions that can be tailored to meet the needs of virtually any e-commerce business. SCS is affiliated to numerous banks in the world making it easy for online businesses located in different parts of the world to transact with ease.

10. United Bank Card:

This is a merchant account that offers its services to e-commerce businesses in the US. The service and transaction fees charged by the bank are one of the most competitive in the US market. In addition to merchant accounts, the company also makes available POS and CNP services. There are no setup and monthly subscription fees, nonetheless, the company levies a gateway charge of $9.95 and yearly fee of $15.00.